As some may know my sister got approved for DISCOVER IT this month as has spent $337 (current balance) Should she pay it rigth now in full or wait until statement is created an reports to CB. Thanks.
Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
@SSA_2013 wrote:
@BearsAndTurtlesRtheBest wrote:As some may know my sister got approved for DISCOVER IT this month as has spent $337 (current balance) Should she pay it rigth now in full or wait until statement is created an reports to CB. Thanks.
I personally let new cards report a small balance when they are new just to get some activity recorded on the reports. If not some may not reflect a balance and some may interpret that as showing no activity. Usually that is what I do every so often and rotate cards.
Some lenders will report the high balance for the first billing cycle regardless of the statement balance. I know Chase did this to me. Either way, letting the first statement or two report the balance is a good practice. Just rotate older cards to show 0 balance. Keep in mind Discover seems to randomly decide when to actually report (1 month or 6 months - Or anywhere in between).
She was approved on May 7th, when do you guys think they will generate her 1st statement?
It would be nice if they saw a $337 balance paid in full.
I've read Discover likes seeing balance activity for CLIs anyway so I allow them to be one of my two reporting cards. Not sure if it is true or not but worth a shot. They will still see your payment history of PIF. If she isn't applying in the next month, it doesn't really matter if she lets a few report anyway.
Shell just pay it in full for now, She signed up for the 5% cash back on gas starting July-September. She'll use it till then and pay what ever balance in full. Thanks guys!
@vwgrrc wrote:
@b_seeker wrote:
@SSA_2013 wrote:
@BearsAndTurtlesRtheBest wrote:As some may know my sister got approved for DISCOVER IT this month as has spent $337 (current balance) Should she pay it rigth now in full or wait until statement is created an reports to CB. Thanks.
I personally let new cards report a small balance when they are new just to get some activity recorded on the reports. If not some may not reflect a balance and some may interpret that as showing no activity. Usually that is what I do every so often and rotate cards.
Some lenders will report the high balance for the first billing cycle regardless of the statement balance. I know Chase did this to me. Either way, letting the first statement or two report the balance is a good practice. Just rotate older cards to show 0 balance. Keep in mind Discover seems to randomly decide when to actually report (1 month or 6 months - Or anywhere in between).
is that Chase Freedom? I'm about to get this card and it's my only one. Do you mean it reports highest balace during the billing cycle? That means I should always keep it below 30% at anytime?
I'm new here, Thanks
It was actually the Amazon Visa because I intentionally let my Freedom report a balance. Because I paid my balance to zero, they reported my highest balance for my first statement. My second statement cut at $0 again, and this time they did report the zero. My freedom had a balance that reported, but it was not my high balance, it was the statement balance. So just let Chase show a balance for the first cycle that you are comfortable allowing to report.
@b_seeker wrote:
@vwgrrc wrote:
@b_seeker wrote:
@SSA_2013 wrote:
@BearsAndTurtlesRtheBest wrote:As some may know my sister got approved for DISCOVER IT this month as has spent $337 (current balance) Should she pay it rigth now in full or wait until statement is created an reports to CB. Thanks.
I personally let new cards report a small balance when they are new just to get some activity recorded on the reports. If not some may not reflect a balance and some may interpret that as showing no activity. Usually that is what I do every so often and rotate cards.
Some lenders will report the high balance for the first billing cycle regardless of the statement balance. I know Chase did this to me. Either way, letting the first statement or two report the balance is a good practice. Just rotate older cards to show 0 balance. Keep in mind Discover seems to randomly decide when to actually report (1 month or 6 months - Or anywhere in between).
is that Chase Freedom? I'm about to get this card and it's my only one. Do you mean it reports highest balance during the billing cycle? That means I should always keep it below 30% at anytime?
I'm new here, Thanks
It was actually the Amazon Visa because I intentionally let my Freedom report a balance. Because I paid my balance to zero, they reported my highest balance for my first statement. My second statement cut at $0 again, and this time they did report the zero. My freedom had a balance that reported, but it was not my high balance, it was the statement balance. So just let Chase show a balance for the first cycle that you are comfortable allowing to report.
Never heard about this before. A bit weird Thanks a lot
Now I have a large spending plan on my Freedom, which will arrive on Monday
. I guess I need to pay multiple times in the first month to keep it below 30%.